Research | Modo Energy

Library

BESS Revenues

ERCOT: Ten key drivers of lower battery energy storage revenues in 2024

As of mid-November 2024, average battery energy storage revenues in ERCOT were around 70% lower than they were at the same time last year. But what were the key trends that drove this drop-off in earnings?Head to the ME BESS ERCOT indices to learn more...

Podcast

Podcast: Global battery markets with Iola Hughes

The global battery energy storage market is undergoing rapid transformation. The decline in cell prices, fueled by fluctuations in lithium costs, has seen a surge in battery production, particularly in regions like China. However, the potential introdu...

Battery Operations

Battery energy storage: How dispatch and cycling rates are evolving

In the summer of 2024, battery energy storage systems in ERCOT dispatched nearly 4x more volume during their peak daily dispatch than in the summer of 2023. Of course, more batteries on the system will inevitably mean higher volumes dispatched. However...

Index Updates

Introducing the new ME BESS GB Indices

Modo Energy’s indices have become a cornerstone for asset owners, operators, banks, and policymakers. In 2022, we released the Modo Energy GB BESS Index - a trusted benchmark for tracking energy storage asset performance in Great Britain. Earlier this ...

Podcast

Podcast: Breaking down battery recycling with William Bergh

Battery Buildout

CAISO: The state of grid-scale battery energy storage in 2024

BESS Revenues

ERCOT: How did battery energy storage perform in August 2024?

Battery Operations

ERCOT: What conditions (if any) impact battery energy storage availability?

Podcast

Podcast: Offsetting carbon with batteries with Emma Konet (Modo Selects)

Battery Buildout

ERCOT: 700+ MW of new battery energy storage in September

More research

05 November 2024

Policy & Market Updates

How much does it cost to build a battery energy storage system in 2024?

What’s the market price for containerized battery energy storage? How much does a grid connection cost? And what are standard O&M rates for storage? Finding these figures is challenging. Because of this, Modo Energy surveyed the battery community - to ...

31 October 2024

Podcast

Podcast: Battery costs with Aaron Wade

Understanding the factors driving cost reductions in battery cells is crucial for staying competitive. As demand for energy storage skyrockets, the pressure to reduce costs has never been higher. Material costs are not the only thing influencing price...

29 October 2024

Forecast Updates

Part Two: Building a battery energy storage revenue forecast in ERCOT

Modo Energy has developed a forecast for battery energy storage revenues in ERCOT. Following our explanation of the production-cost model, let's examine the second core component of the Modo Energy forecast: the dispatch model.This model simulates batt...

24 October 2024

Policy & Market Updates

Podcast: ERCOT summer revenues update with Brandt Vermillion

Battery revenues in ERCOT in June 2024 were 85% lower than June 2023, with average earnings of $45/kW (annualized), compared with when batteries earned a massive $309/kW/year in 2023. In fact revenues earned in the summer months of June through August...

16 October 2024

Forecast Updates

How to build a battery energy storage revenue forecast in ERCOT

Modo Energy has developed a forecast for battery energy storage revenues in ERCOT. The forecast allows battery owners, operators, developers, and financiers to understand revenue opportunities out to 2050.You can customize your inputs to see revenue pr...

11 October 2024

Battery Buildout

Battery energy storage in the United States to hit 140 GW by 2030?

Battery energy storage systems have become the fastest-growing grid-scale energy technology in America, alongside solar generation.Currently, there is around 17 GW of commercially operational battery capacity by rated power across all Independent Syste...

10 October 2024

Podcast

Podcast: Virtual Power Plants with Geoff Ferrell

As residential energy storage systems become more widespread, an exciting opportunity is emerging for homeowners: participating in energy markets and helping to stabilize the grid. But how can smaller home batteries combine forces to contribute during ...

07 October 2024

Ancillary Services

ERCOT: Are Ancillary Services now saturated with battery energy storage?

In September 2024, Ancillary Service clearing prices in ERCOT averaged just $1.93/MW/h. This is the lowest they’ve been, across a month, since battery energy storage systems entered the market.This is the fourth time that average monthly Ancillary Serv...

03 October 2024

BESS Revenues

ERCOT: How did battery energy storage perform in July 2024?

In July 2024, battery energy storage systems listed on Modo’s ERCOT BESS Index earned average revenues of $23/kW (annualized). July is the last full month for which ERCOT's market disclosure data exists (it is published 60 days after the fact).$23/kW/y...